New Guinea Energy Ltd. (NGELY: OTC Link) | PPL 277

PPL 277

Sep 21, 2012

OTC Disclosure News Service

Sydney, NSW, Australia –

On 7 June 2012, New Guinea Energy Limited (NGE) was pleased to inform shareholders that Oil Search (PNG) Limited (OSH) had announced the spudding of Trapia-1 within PRL 11, a licence held by OSH and Esso Highlands Ltd.

On Thursday, 20 September 2012, OSH announced the results of the drilling and a copy of OSH’s announcement can be found on OSH’s website at www.oilsearch.com.

The outcome of the drilling of Trapia-1 does not impact NGE’s signed agreements with OSH and Esso PNG Exploration Ltd in relation to PPL277. The PPL277 transaction remains subject to a number of conditions precedent, including Ministerial approval and licence specific conditions.

Grant Worner

Chief Executive Officer

The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.

Article source: http://www.otcmarkets.com/stock/NGELY/news?id=52823

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